I’m interviewing contractors in Hampton Roads, Virginia, and one of them said their structure with other investors is they charge a 10% (of profit) as a Project Management fee.

I’m interviewing contractors in Hampton Roads, Virginia, and one of them said their structure with other investors is they charge a fee of 10% (of profit) as a Project Management fee.

I have done flooring, tile patios, hot water heaters, masonry work, molding and concrete work on personal projects so I know some about cost of repairs and timelines of projects (Always over on both from my experience).

Bab Adetiba Is gross income projected or collected?

PM and I'll provide contact info for the folks I use on my projects.

But after that you should try and buy value add projects.

I've been averaging somewhere around $30k per project in profit. 36/year would put me at $1,080,000 for the year--so 10% of that for a marketing budget would be $108k.Thats great information and I appreciate you sharing it with me.

@Chris Seveney, 80k was derived from a walkthrough conducted by my contractor. 4 months is based on the fact that the units themselves need mostly cosmetic work, and the basement being the biggest project.

There is inherent risk in every investment, and while we try to take as much risk out of the deal as humanly possible at the end of the day it is going to be your property and project. 

Currently seeking to network with other members who are as excited as me about the westside/southside beltline and surrounding projects!